This excerpt taken from the URBN 10-Q filed Jun 9, 2005.
Tenant shall deposit with Landlord or Landlords agent certain utility deposit(s) as stated in the Agreement of Lease (collectively, the Utility Deposit) so long as the providers of electric and water to the Leased Premises require such deposits and designate Landlord or Landlords agent as the proper holder of the Utility Deposit. The terms and conditions governing the Utility Deposit are set forth in Article 13.
If Tenants fails to pay items of Additional Rent with respect to electrical and water services and such failure to pay constitutes an Event of Default by Tenant hereunder, Landlord, at Landlords option and consistent with the policies of any provider of electrical or water service requiring the Utility Deposit, may appropriate and apply the Utility Deposit, or so much thereof as may be necessary to pay any rent or other sums due hereunder for which Tenant has failed to pay or to reimburse Landlord, or any amounts which Landlord has expended as a result of Tenants failure to perform its obligations hereunder with respect to the payment of electrical and water services. Should the entire Utility Deposit, or any portion thereof, be appropriated and applied by Landlord, then Tenant upon the written demand of Landlord, shall provide to Landlord a sufficient amount in cash to restore the Utility Deposit to the original sum deposited, and Tenants failure to do so within ten (10) days after receipt of Landlords demand therefor shall constitute an Event of Default under the terms of this Lease. Upon Tenants full and faithful performance and compliance with all of the terms, covenants, and conditions of this Lease, upon the expiration of the Lease and Tenants surrender of the Leased Premises in compliance with the terms of the Lease, the Utility Deposit shall be returned to Tenant within thirty (30) days of such surrender.
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Landlord may deliver Tenants Utility Deposit to any purchaser of the Leased Premises (so long as the relevant utility provider designates such purchaser as the proper holder of the Utility Deposit) and, upon such delivery, and notice by, Landlord to Tenant of the name and legal address of such purchaser, Landlord shall be discharged from any further liability with respect to the Utility Deposit.